When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

Additionally, a CPA can maximize child tax credits, rental property depreciation, and ensure compliance with reporting requirements for their 1099 income.

While my husband and his ex make a similar income and do not exchange child support due to us pointing that out in court a couple of years ago, she actively request all financial documents that she possibly can and examines our taxes, etc. 

California also has Proposition 19 rules to consider, which might impact property tax reassessments if the transfer is not between parent and child. 

I know that i could buy my next multi family property as a primary residence close by move in, rent half live in the other and than rent where i am now which would cash flow upwards of 1k monthly, or i could buy another multi as strictly an investment property out of state which would be a lot cheaper (taxes and cost of property) and a lot more landlord friendly laws than New York, i guess i’m just undecided on which route i want to take and I’m trying to weigh the pros and cons of each scenario.

Relatively small amounts of interest income ($1600+ per year) is the highest taxed form of income I have found if you have kids at home.After earning a few grand in interest, It takes away my child tax credits and gives me an effective tax rate of 70%.   

Good Afternoon BP,I’ve been away for a while as the birth of my first child took priority.

A recent marriage or birth of a child or adoption of a pet.

I’m undecided between Blake Choisnet, Nate Barger and Sam Primm.I’ve researched all three extensively and get good vibes from all three.